The crisis at Intu is continuing with a report that its potential administrator, KPMG, is seeking £12 million in emergency funding to help the shopping centre giant continue operating during an insolvency process.
Unilever’s 2018 attempt to ditch its dual Dutch and UK structure via an HQ in Rotterdam was stymied by shareholders. But now it's making a second attempt to simplify its set-up, with the HQ in London.
As Inditex focuses on its new strategy that’s designed to boost sales and profits via larger, digitally-enabled stores, up to 1,200 of its smaller location could close.
The value of London landlord Shaftesbury’s property portfolio slumped by 7.9% to £3.5 billion during the first half of the 2020 financial year, as Covid-19 hurt its ability to collect rent from hard-hit retailers.
Hearst Magazines has named Samira Nasr to be the new editor-in-chief of the US edition of Harper’s Bazaar, the group’s single most famous fashion magazine. The first person of color to edit the 153-year-old publication.
Inditex made its first ever net loss in Q1 as the pandemic hit it hard. But the firm has been busy during the lockdowns and its updated strategy will see it emerging as an even stronger omnichannel operation.
Covent Garden will reopen for shopping on June 15 with all the social distancing and hygiene measures in place that we expect. And there will be new services on offer as retailers aim to innovate post-lockdown.
A new study has shown that more Britons are prepared to get back to shopping post-lockdown than aren’t. But it also shows a changed environment with consumers seeking greater sustainability and more value.
As the government seeks to boost the economy following the coronavirus crisis and the linked lockdowns, there have been suggestions that Sunday trading laws could be relaxed to allow large shops to open for longer.
Footfall to retail areas is beginning its long recovery journey and this bodes well for the June 15 reopening of those shops. Retail parks are benefiting and smaller local high streets are also seeing a boost.
The UK’s biggest shopping centre operator reportedly has administrators waiting in the wings in case its discussions with its lenders fail before its debt waiver expires later this month.
Online sales helped to salvage some good news out of the gloom during May with BDO’s Retail Sales Tracker for the month showing a 129.5% e-sales uplift year-on-year.
With rumors mounting that Bernard Arnault may be attempting to renegotiate a lower deal price for LVMH’s acquisition of Tiffany, the luxury group said Thursday it will not buy any shares in the jeweler on the market.
Shopping malls giant Unibail-Rodamco-Westfield has made “strong progress” with its mall reopenings globally with 65 of 90 now open. And indications are that footfall and trade is stronger than expected in many countries.
Camden Market owner LabTech said that the market will partially reopen at the earliest possible opportunity, on June 1, following the government’s latest announcement on the easing of the lockdown.
